Export credit facility enables Indian goods and services exports under Exim Bank credit; authorised dealers must follow FEMA directions.
Exim Bank's credit finances eligible Indian goods and consultancy services for an irrigation project in Lao PDR, requiring most of the contract value to be supplied from India or be of Indian origin while permitting limited procurement abroad. Letters of Credit and disbursements follow prescribed timelines; shipments must be declared on GR/SDF forms. No agency commission is payable under the LOC, but exporters may use their own resources or EEFC balances for commission payment subject to realisation and existing instructions. AD Category I banks must notify exporters and facilitate remittances in compliance with the circular. Directions are issued under FEMA without prejudice to other statutory permissions.

Due diligence for money changers: incorporated franchisees may submit incorporation documents instead of police conduct certificates.
ADs Category I/II and FFMCs may accept a certified copy of the Memorandum and Articles of Association and the Certificate of Incorporation in lieu of a local police conduct certificate for agents/franchisees that are incorporated entities; other requirements in paragraph (C)4 of Annex I remain unchanged, Item No. 6 of Form RMC F should be modified for corporate franchisees, and the directions are issued under Sections 10(4) and 11(1) of FEMA, 1999 with non compliance attracting Section 11(3) penalties.

Indian Depository Receipts: framework allows foreign issuers to issue IDRs in rupees subject to FEMA and SEBI conditions.
Foreign companies resident outside India may issue Indian Depository Receipts (IDRs) through a Domestic Depository subject to Companies (Issue of Depository Receipts) Rules, 2004 and SEBI (DIP) Guidelines; IDRs must be denominated in Indian Rupees, proceeds immediately repatriated, automatic fungibility is not permitted, and IDRs cannot be redeemed into underlying equity before one year. Investor participation rules specify FEMA-based conditions for residents, FIIs and NRIs, and redemption/conversion requires compliance with FEMA (Transfer or Issue of Any Foreign Security) Regulations, 2004, including limited holding periods for resident individuals and specified treatment for listed companies and mutual funds.

Line of credit facility enabling financing for eligible exports to Sudan with specified sourcing and compliance conditions.
Grant of a Line of Credit by Exim Bank to the Government of Sudan finances eligible goods, services and consultancy from India for the Elduem Sugar Project, requiring at least 85% Indian-supplied value and permitting up to 15% foreign procurement (excluding consultancy). Shipments must be declared on GR/SDF forms; timelines for opening Letters of Credit and disbursements are tied to project completion or a set period from agreement execution. No agency commission is payable under the LOC, though exporters may use their own funds or Exchange Earners' Foreign Currency Account balances for commission payments subject to remittance rules. Directions are issued under sections 10(4) and 11(1) of FEMA without prejudice to other approvals.

Special currency basket valuation revised, effective date set, authorised dealer banks to implement under FEMA directions.
The Reserve Bank revised the rupee valuation of the special currency basket for Deferred Payment Protocols with the erstwhile USSR, fixing the operative value effective June 25, 2009, and directed Authorised Dealer Category I banks to implement the revision and notify concerned constituents. The circular states the Directions are issued under the Foreign Exchange Management Act, 1999 (sections 10(4) and 11(1)) without prejudice to other statutory permissions.

Special currency basket valuation revised; authorised banks instructed to apply the new valuation under FEMA directives and notify constituents.
The circular notifies Authorized Dealer Category I banks of a revision in the rupee valuation of the special currency basket under the Deferred Payment Protocols and instructs banks to apply the revised valuation, inform their constituents, and comply with the directions issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999, without prejudice to other statutory permissions.

Line of Credit permits financing of eligible exports with Indian content, shipment declarations and specified commission rules.
Exim Bank's LOC finances goods and consultancy services from India for an upgrade project, requiring at least 85 percent of contract value to be supplied from India with up to 15 percent non consultancy inputs procurable abroad, prescribes differing last dates for opening LCs and disbursements depending on contract type, mandates GR/SDF shipment declarations, disallows agency commission under the LOC while permitting exporter funded commission remittances under prevailing rules, and is issued by the Reserve Bank under FEMA without prejudice to other legal permissions.

FCNR(B) deposits: foreign currency term deposits with LIBOR/SWAP-based interest ceiling, repatriable, one-to-five year maturities.
Consolidates RBI instructions for FCNR(B) deposits: scheme covers specified foreign currencies for one- to five-year repatriable term deposits for NRIs; banks must set rates within a ceiling based on LIBOR/SWAP plus a margin using FEDAI benchmarks; interest is calculated on a 360-day year with prescribed payment mechanics and optional compounding on maturity; banks may levy disclosed penalties for premature withdrawal and must follow rules on advances against deposits including a prescribed loan ceiling and prohibitions on artificial structuring and brokerage.

Export credit framework: consolidated rules on eligibility, pricing and operational mechanics for rupee and foreign currency export finance.
Master Circular consolidates RBI instructions on provision, pricing, tenure, liquidation and reporting of rupee and foreign currency export credit, specifying eligible pre shipment and post shipment advances, concessive treatment conditions, running account and substitution rules, interest ceiling frameworks linked to BPLR and LIBOR family rates with defined time buckets and overstaying consequences, PCFC and EBR operational mechanics and sources of funds, restrictions on refinance, and customer service, sanctioning and reporting requirements including Gold Card, compensation for delayed credit and state level oversight.

Interest rates on rupee deposits: banks must follow RBI-specified rates, ceilings for NRE/NRO, and operational conditions.
Consolidates RBI directives governing interest on rupee deposits in Domestic, NRO and NRE accounts: classification, definitions, minimum tenors (domestic/NRO seven days; NRE normally one to three years), board approval for rates, NRE ceilings linked to LIBOR/SWAP, payment and calculation conventions, rules on premature withdrawal and conversions, limits on loans against NR(E)RA/FCNR(B) deposits, disclosure and rounding rules, specified exemptions and explicit prohibitions on discriminatory pricing, commission payments and prize-linked mobilisation schemes.

Banks must verify FCRA registration/permission before crediting foreign contributions through the designated branch and report semi annually.
Banks must verify that recipient associations are registered with the Ministry of Home Affairs or hold prior Central Government permission before crediting any foreign contribution; accept such contributions only through the designated bank branch; treat rupee funds from foreign sources, transfers by intermediary recipients, interest on foreign funds, and NRE/FCNR remittances from foreign citizens of Indian origin as foreign contribution; and submit prescribed half yearly statements to the Central Government while maintaining branch vigilance and accountability for compliance.

Export of goods and services: consolidated RBI directions on declaration forms, repatriation timelines, bank reporting, and special export arrangements.
Consolidated Reserve Bank directions governing export of goods and services under FEMA, prescribing mandatory declaration procedures using GR, SDF, PP and SOFTEX forms, timelines and modes for realisation and repatriation of export proceeds, conditions for advance payments (including interest limits and routing through AD Category - I banks), operational responsibilities of AD Category - I banks (verification, reporting, audits, maintenance of export registers and XOS statements), and detailed rules for special arrangements such as EEFC/Diamond Dollar accounts, SEZ operations, project exports, consignment exports, and write-off/extension mechanisms.

External Commercial Borrowings and Trade Credits: rules on eligibility, routes, costs, end use and reporting requirements.
The Master Circular prescribes that ECBs and Trade Credits may be raised only by eligible borrowers from recognised lenders under either an Automatic Route (for specified real sector, infrastructure and certain service sectors within prescribed annual limits, maturities and all in cost ceilings) or an Approval Route (for proposals outside those parameters), with detailed end use restrictions, security and guarantee conditions, parking of proceeds, prepayment and refinancing rules, and mandatory reporting (LRN, Form 83, ECB 2 and trade credit returns).

Foreign exchange risk hedging rules govern permissible forwards, derivatives and reporting, with strict eligibility and prudential controls.
This Master Circular consolidates RBI instructions on foreign exchange risk hedging, inter-bank dealings and rupee accounts of non-resident banks, authorising specified forward contracts, swaps, options, currency futures and commodity/freight hedges subject to documentary verification, eligibility, tenor and notional matching, restrictions on structures that increase risk or yield net premium, board-approved risk policies, and extensive reporting and prudential limits for AD Category I banks.

Master Circular on Miscellaneous Remittances: Authorised Dealers may permit resident remittances up to USD200,000 under conditions.
Authorised Dealers may release foreign exchange to residents for permitted current account and specified capital account transactions under delegated limits, subject to Schedule I prohibitions, Schedule II Government approvals and Schedule III Reserve Bank approvals where limits are exceeded. ADs may accept self declaration for certain purposes and amounts (including USD 100,000 for employment, emigration, maintenance, education and medical treatment), must observe KYC/AML and documentation requirements, and report remittances under the Liberalised Remittance Scheme (USD 200,000 per financial year) using prescribed forms and monthly returns.

Remittance facilities for NRIs/PIO/foreign nationals set USD 1 million repatriation cap and specific documentation and bank compliance rules.
The Circular consolidates FEMA rules on remittance facilities for NRIs/PIO and foreign nationals: defines NRI/PIO; allows repatriation of current income via NRO/NRE/FCNR(B) accounts; permits repatriation or remittance up to USD one million per financial year from NRO balances or sale proceeds subject to an undertaking and Chartered Accountant's certificate; allows repatriation of foreign-exchange-funded residential property proceeds (limited to two properties); prescribes nationality-based exclusions; treats students as NRIs for facilities; and requires Authorised Dealer banks to perform due diligence and retain documentation.

Non-Resident Ordinary Rupee (NRO) account rules: eligibility, permitted credits/debits, USD 1 million repatriation limit, and compliance requirements.
NRO accounts may be opened by persons resident outside India for bona fide rupee transactions; accounts can be current, savings, recurring or fixed deposits and jointly held. Permissible credits include freely convertible remittances, foreign currency brought on visit, legitimate dues and sale or inheritance proceeds; debits include local rupee payments, investments subject to RBI rules, remittance of current income, and repatriation up to USD 1 million per financial year subject to documentary evidence, an undertaking and a chartered accountant's certificate. Authorised dealers must verify declarations, preserve documents, and may grant limited loans/overdrafts against fixed deposit security under RBI directives.

Import of goods and services: RBI rules set documentation, advance remittance safeguards, sectoral exceptions and reporting duties for banks.
This Master Circular consolidates RBI directions for AD Category I banks governing import payments under FEMA, prescribing AD banks' duties to ensure conformity with Foreign Trade Policy and KYC norms, conditions for advance remittances and deferred credits, documentation requirements (Exchange Control copy of Bill of Entry or specified certificates) for remittances exceeding USD 100,000, sectoral exceptions (rough diamonds, aircraft, BPO equipment), record preservation and verification, follow up and reporting obligations (BEF and Annex statements), and special rules for precious metals, merchanting trade, guarantees and import factoring.

Foreign Direct Investment rules set entry routes, sectoral caps, prohibited activities and mandatory reporting requirements for overseas investors.
Foreign investment under FEMA is effected via the Automatic Route (no prior approval) or Government Route (prior FIPB/Government approval) and is subject to sectoral caps, prohibited activities, investor eligibility rules (including special treatment for NRIs, PIOs, OCBs and investors from Nepal/Bhutan) and permitted instruments (equity, fully mandatorily convertible debentures/preference shares). The circular prescribes pricing/valuation norms, strict timelines for issuing shares after receipt of consideration, extensive reporting in specified forms (Advance Reporting Form, FC-GPR, FC-TRS), KYC and documentation requirements, conditions for transfers and remittances, conversion of ECB/royalty/imports into equity, and rules for immovable property acquisition and establishment/closure of foreign offices in India.

Direct investment by residents abroad: RBI rules set routes, 400% ceiling, funding, valuation, reporting and AD bank duties.
Consolidated RBI Master Circular prescribes the regulatory regime for resident Indian direct investment in overseas JVs and WOS, establishing Automatic and Approval routes, a 400% net worth ceiling (with specified exceptions), permitted funding sources, valuation and documentation standards, sectoral conditions for financial and energy sectors, eligibility conditions for proprietorships/trusts/societies, and mandatory reporting via Form ODI with Unique Identification Numbers, along with operational duties of AD Category I banks including verification, retention of evidence, remittance certification, and rules on disinvestment, pledges, guarantees and hedging.